Proptech Firm Cecilian Partners Secures $11M Series A Funding Round
Led by Resolve Growth Partners, the investment will accelerate Cecilian's growth and market share among U.S. land developers and home builders
NEW HOPE, Pa., Sept. 20, 2023 /PRNewswire/ -- Cecilian Partners, a leading proptech firm providing end-to-end digital solutions for home builders and land developers, today announced that it has raised $11 million in its first institutional equity round led by Resolve Growth Partners. Cecilian plans to use the growth funding to accelerate product innovation, expand headcount in critical areas, and continue developing the most client-centric customer success team in the industry.
"Being an entrepreneur is difficult. Growing the firm out of the basement of my house four years ago to thriving and growing in this current market is thrilling ¾ and receiving that term sheet from Resolve Growth Partners was a moment of validation and excitement for me and my team," said company co-founder and CEO John Cecilian, Jr. "This investment transitions us from a 'scrappy start-up' to a focused organization positioned to win. We are grateful to the team at Resolve and ready to accomplish meaningful growth and customer expansion."
The investment comes despite a long slump in early-stage funding, with Q2 2023 seeing the lowest quarterly total investment in North American firms in more than three years. After examining hundreds of SaaS companies and conducting rigorous due diligence, Resolve chose Cecilian Partners based on Cecilian's explosive revenue growth, proven business model and clear path to profitability.
"We're thrilled to have the opportunity to partner with John and the rest of the team at Cecilian Partners to build the category-leading platform for land developers and home builders," said Resolve co-founder and Managing Partner Chris Rhodes. "This market has traditionally been underserved by technology. Cecilian offers a first-of-its-kind solution to help its customers transform their businesses through digitization and a true partnership approach."
History of rapid growth
Since its founding in 2019, Cecilian Partners has focused on new homes, the fastest-growing segment in residential real estate. The firm's unique software suite digitizes the entire land and property development process ¾ consolidating data, automating manual processes and delivering a better customer experience across the homebuying journey.
Cecilian tripled its revenue in the last 12 months, far outpacing the typical growth rate for early-stage SaaS companies, while its client base grew 65%. The company now has a national footprint of builders and developers across multiple states, including more than 75 clients in Texas and Florida alone, where nearly a third of all new homes in the US are built.
This Series A funding round also caps a year in which Cecilian was named to the HousingWire TECH100 list, named a PHL Inno Fire Award honoree, and recognized as one of greater Philadelphia's Best Places to Work.
Focused investment strategy
Cecilian will increase the pace of product innovation and talent acquisition, while leveraging Resolve's financial acumen and SaaS company-building expertise to accelerate growth. This strategy includes restructuring the company's Board of Directors and investing in four critical business areas.
Resolve co-founder Chris Rhodes and principal Rocco Natalicchio will join the board, bringing deep leadership and investment experience in vertically integrated SaaS markets. Two current members will continue to serve: Stephanie McCarty, Chief Marketing & Communications Officer at Taylor Morrison, and Ned Moore, co-founder and CEO of Clutch. McCarty is a leading brand and marketing expert in real estate development, and Moore is a SaaS expert with a successful track record as a serial entrepreneur.
"New home construction is an industry so ripe for innovation," said McCarty. "And while this industry has stubbornly resisted innovation and new technology, I believe much of that thinking is behind us. Cecilian Partners, with their expansive suite of products, is poised to step in and solve many archaic processes and longstanding pain points that exist today and, in turn, provide a better, more positive experience for customers, builders and developers."
Resolve's investment enables Cecilian to rapidly expand its team, adding key roles and functions to support four growth drivers: business development, in-house technology and R&D, customer success and marketing. Adding to an already outstanding team, the new hires will help capture new opportunities for growth and innovation, enhance client support and increase brand visibility across the country.
Cecilian plans to increase its employees by 50% over the next 12-15 months, growing its head count in Chicago; Dallas, Texas; Raleigh, N.C.; and company headquarters in New Hope, Pa.
About Cecilian Partners
Since 2019, Cecilian Partners has sought to bridge the digital divide between homebuilders, community developers, and home buyers with its patented technology platform. The firm's property development software, 3D mapping technology, and data management solutions simplify the complexities of placemaking for builders and developers while offering interactive experiences that transform the home buying experience. Cecilian Partners collaborates with land developers and homebuilders across the U.S. who aspire to modernize their digital footprint and ease everyday pain points associated with building and buying homes. For more information, visit https://cecilianpartners.com/ or the Linkedin Company Page.
About Resolve Growth Partners
Resolve Growth Partners is a growth equity firm focused on investing in B2B software companies and enabling passionate, committed entrepreneurs to accelerate growth. Resolve provides expertise and repeatable best practices across talent, go-to-market, and operations. For more information on Resolve, visit http://www.resolvegrowth.com.
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SOURCE Cecilian Partners
